As the fear of power sector debt turning loom large and with warning over poor state finances by both the Reserve Bank of India (RBI) and the Finance Commission, the government is likely to review its flagship Ujwal Discom Assurance Yojana (UDAY) scheme.
“UDAY scheme is posing some financial challenge, especially in terms of state finance companies. Increasing state debt on account of power sector is a problem and both the finance ministry and the power ministry will review the scheme,” said a senior official, finance ministry.
The UDAY scheme was launched in November 2015 and under the scheme, state governments were to take over 75 per cent of the utilities’ debts and include it in their fiscal deficit calculations. Read More
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